Archive
International News Services archives articles supplied to clients one year or more after initial publication. These articles are protected by a password and not made available to readers without permission from clients. They are used as a background resource by agency journalists. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.
ECJ CLARIFIES RULES ON BIOCIDAL CHEMICAL DISPUTES
A European Court of Justice (ECJ) ruling has clarified the European Union (EU) biocidal product regulation BPR by stating EU companies may not sell a biocidal product for which another company has secured a BPR registration, if the two products are chemically identical.…
ASIAN REGULATORY ROUND UP – TAIWAN REVISES CLIMATE LAW TO ENSURE PAINT EXPORTS TO EU AVOID ECO-DUTY
The Taiwan Environmental Protection Agency (EPA) has initiated a revision of the island’s Greenhouse Gas Reduction and Management Law, partly to help paint and coatings manufacturers maintain access to the European Union (EU) market. The reform will take account of the EU’s planned Carbon Border Adjustment Mechanism, which may levy duties on products the EU deems have been made with excess carbon emissions.…
SCIENTISTS PRODUCE TEXTILE SECTOR CHEMICALS FROM SPENT NUCLEAR FUEL
Researchers from England’s Lancaster University and Aston University, plus the Jožef Stefan Institute, Ljubljana, Slovenia, have developed a technique of making textile additives from spent nuclear fuel. They argue the system offers economic and environmental gains regarding the processing of waste, as well as substituting sodium dithionite, which can help form toxic gases.…
EU MEMBER STATES DRAG FEET OVER MANDATED BIOCIDAL PRODUCTS REVIEWS
The European Commission has warned that European Union (EU) member states are making “alarmingly slow progress” in reviewing the safety of active biocidal substances on sale before May 2000 – covering most products. A review of the operation of the 2012 EU biocidal product regulation (BPR) of 2012 concluded that while the system was “fully operational”, there has been a “substantial delay in active substance approval,” whose completion deadline has already been extended from 2014 to 2024.…
IRELAND’S MEDTECH SECTOR GROWS, WITH GOVERNMENT OFFERING WIDESPREAD SUPPORTS
Ireland’s burgeoning medtech sector has supported changes in the latest Irish government budget, announced on October 12, which could boost investment and start-ups in this globally important Irish industry. The Fianna Fail-Fine Gail-Green coalition unveiled reforms to the country’s Employment Investment Incentive (EII) scheme, which grants tax exemptions to investors in industries such as medtech.…
EU MOVES TO IMPLEMENTING COUNTRY-BY-COUNTRY REPORTING RULES
The European Union (EU) has at last, after five years of debates, finalised a country-by-country reporting directive designed to force multi-nationals to reveal publicly what profits they make, and taxes they pay, in each country of operation. The goal is to stop multinationals hiding behind consolidated group financial reports that conceal when they might pay taxes in low tax jurisdictions where trading may be light.…
EL SALVADOR’S ADOPTION OF BITCOIN POSES IMPORTANT QUESTIONS FOR INTERNATIONAL ACCOUNTANTS
Accountants are grappling with the implications of El Salvador formally adopting Bitcoin (BTC) as legal tender on September 7, alongside USD, which has been the country’s legal tender since 2001, when the country withdrew its national Colón currency.
While USD will remain the most important currency in El Salvador, remaining the reference currency for accounting purposes, with greenback banknotes and coins still circulating, the Bitcoin Law that established the cryptocurrency in El Salvador (1) will be a challenge and opportunity for businesses.…
FINLAND CAN MANUFACTURING INDUSTRY BUOYED BY NATIONAL MARKET FAVOURING CANNED BEER
THE FINNISH can manufacturing industry has been growing, with new production coming online in the past 10 years to diversify a sector that is able to draw on effective access to raw materials and a highly skilled workforce.
Both Rexam (now part of Ball) and Poland-based Canpack operate efficient Finnish can-making plants.…
HAULIER SHORTAGE POSES CHALLENGES FOR CAN INDUSTRY WORLDWIDE
The lorry driver shortage in the UK has grabbed headlines, with concerns raised that Britain’s Brexit from the European Union has worsened the problem. And while that is almost certainly true, the shortage of drivers willing and able to take on commercial haulage jobs is far from being a Britain-only challenge.…
PANDORA PAPERS SHOWS REPUTATIONAL AS WELL AS CRIMINAL RISKS OF USING OFFSHORE FINANCIAL SERVICES
The huge offshore finance leak unveiled last month (October 3) by the International Consortium of Investigative Journalists (ICIJ) has highlighted the risks major companies face when doing business in offshore jurisdictions. Keith Nuthall and Andreia Nogueira report.
Major companies undertaking international business must comply with increasingly tough beneficial ownership transparency laws, and risk reputational damage if they are associated with particularly elaborate devices to avoid tax, even if it is legal.…